3032979
turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
Announcements
Attend our Ask the Experts event about Tax Law Changes - One Big Beautiful Bill on Aug 6! >> RSVP NOW!
Close icon
Do you have a TurboTax Online account?

We'll help you get started or pick up where you left off.

bigval-
New Member

I'm not finding a principal business code on the 1099-MISC form

 
x
Do you have an Intuit account?

Do you have an Intuit account?

You'll need to sign in or create an account to connect with an expert.

1 Reply
TeresaM
Expert Alumni

I'm not finding a principal business code on the 1099-MISC form

Your business code is a six-digit number that represents the kind of work you do. Different kinds of work have different business codes.


To enter the code, you will click on Edit for General Information in your Schedule C.

 

 

 

Then Edit in Tax details


Select Lookup Business Codes, enter some keywords that describe your business (for example, day care, bookkeeping, or door-to-door), and then select Search.

Select the code that most closely resembles your business's activities. If you can't find a code that applies, you can enter 999999.


If you need extra time and file an extension, it will waive failure-to-file penalties until October 18th. However, if you would have owed tax on April the 18th, the IRS will assess monthly late payment penalties and interest until you pay.

I recommend to extend your return with a TurboTax Extension and also pay your best guess of anything you may owe. If you overpay, it will be refunded. If you underpay, it will only calculate penalties on the part that was not paid.

TurboTax has a tool called TaxCaster to give you an idea of your tax liability and/or refund. You can vary different items and see how that could impact your return. Click for TaxCaster
 

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"

Unlock tailored help options in your account.

message box icon

Get more help

Ask questions and learn more about your taxes and finances.

Post your Question